Period: April 2024 - up to date Bias 1: BUY Rationale: The price of gold bounced off the 78.60% Fibonacci extension resistance level. The current market price indicates a price rejection, as shown by the candlestick’s shadow bouncing at this level. The PSAR (Parabolic SAR) remains in an uptrend. The Fibonacci extension is drawn from the low swing of 2,271.30 to the swing high of 2,799.87, down to the retracement swing low of 2,542.68. Using the Fibonacci extension is more appropriate in this case since the market is at an all-time high, with minimal retracement on the current swing. It is advisable to wait for the price to retrace to the 38.20% level or set a buy limit order at that point. The take-profit target is based on the height of the previous swing (from low to high), while the stop loss is placed below the 0% Fibonacci level. Trade Call: Buy Limit: 2,726.13 Stop Loss: 2,500.32 Take Profit: 3,241.72 Bias 2: SELL Rationale: If there is a break of structure at the fib level 0% or when the price drops below 2,531.83, I will sell on the first retest around 2,499.57, provided that both price action and PSAR confirm the bearish setup. Once the structure is broken, a retest of the previous structure becomes less likely. My first take profit is set at 2,276.97, and the second take profit is 1,802.08. The stop loss is placed at 2,745.46, offering a 1:1 risk-reward ratio for the first take profit and a 1:2 risk-reward ratio for the second. Trade Call: Sell: 2,499.59 Stop Loss: 2,745.46 Take Profit 1: 2,276.97 Take Profit 2: 1,802.08
This chart represents a 1-hour time frame analysis of gold (XAUUSD). The price recently tested a major support zone and showed signs of rejection, indicating potential bullish momentum. A possible target for the upside move is around the 2,926 resistance zone, with the first target at 2,904. The price structure suggests that if the support holds, buyers may push the price toward these levels. However, a failure to hold above the support zone could signal further downside.
From a technical perspective everything looks primed for a pre-earnings rally for $DPZ. With about eight trading days prior to reporting I expect a move to the upside. Trade Risk Reward is about 1:1 with SL of $450 Daily Close and PT of ~$500. Happy Trading.
Hello traders, Today, the daily trading volume reached $300 million, which is nearly four times the market cap. This is a significant figure and suggests the potential for further advancement. I have marked important levels on the daily chart, along with arrows indicating possible routes. As long as Bitcoin holds steady, I am expecting gains of 40% to 100% in the near term. However, if BTC doesn't maintain this stability, these targets may take longer to achieve.
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ION has secured approval from the National Stock Exchange of India (NSE) as an empaneled vendor. This recognition allows ION's Fidessa platform to handle equities, futures and options (F&O), and algorithmic trading on the exchange.
Mahe, Seychelles, 11th February 2025, FinanceWire
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